Re: [TheOptionClub.com] My Kid's trading account

 

You may want to look into an outfit out of California called BrokersXpress. They are an outcropping of OptionsXpress. I have my IRA account with them, and I am able to trade condors, butterflies, calendars, naked puts, and just about everything except naked calls.
The margin requirements have all been in line with what I expect for the various strategies. Call 800-233-9605 and ask for Gregg. He is unbelievably helpful and can answer any margin requirement questions.

RFH

--- In OptionClub@yahoogroups.com, "Renee Hughes" <Reneehug@...> wrote:
>
> Joey,
>
>
>
> I'd start with TOS support - I didn't think the margin changed on debit
> spreads as long as the # of contracts matched on each side. I'm already
> organized as a business and that hasn't helped.
>
>
>
> But I am considering changing brokers because of the crazy margin
> requirements at TOS.
>
>
>
> Best wishes,
>
> Renee
>
>
>
>
>
> From: OptionClub@yahoogroups.com [mailto:OptionClub@yahoogroups.com] On
> Behalf Of Joey Huckabee
> Sent: Friday, July 30, 2010 8:59 PM
> To: OptionClub@yahoogroups.com
> Subject: [TheOptionClub.com] My Kid's trading account
>
>
>
>
>
> I just opened up TOS and was looking at some trades that I was
> thinking of placing for my minor's account and was surprised by the
> "new regulations" that TOS has rolled out.
> Remember Children can not have margin accounts so this is treated like
> an IRA.... and BTW I have been reading the POSTs about this I was just
> surprised that I was affected by it as well.
>
> Here is an Example:
>
> Vertical BUY +10 IBM AUG 10 115 PUT
> SELL -10 IBM AUG 10 110 PUT
> OLD BP EFFECT $80.00
> NEW BP EFFECT $110,050.00
>
> THIS IS A DEBT SPREAD!!!!!! and forget about a spread using calls...
> it is not allowed.
>
> I am not sure what I am going to do... move brokers, organize as a
> business... any thoughts?
>
> Thanks,
>
> Joey
>

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